No two businesses are the same nor are any two acquisitions the same, making each transaction unique and challenging. Even if you have bought a business before, the next experience is going to be different.
Complicated as it may seem, the Buying Process does, however, have a general order that has proven over the years to work best.
- Find a business that not only interests you but that you can see yourself enjoying. Consider contacting a broker to help you find the right business.
- Sign a Confidentiality Agreement and provide the broker with your background and financial information.
- Review the business to see if it meets your needs and financial capacity.
- Arrange with the broker to meet the seller and visit the business, usually outside business hours.
- Prepare an Offer or Letter of Intent (LOI) which is presented to the seller through the seller’s broker. The owner will either accept, reject or a counter the offer presented. Expect at least some level of negotiations before arriving at a mutual acceptance of the final offer.
- Perform financial and operational due diligence while at the same time arranging for financing, if needed.
- Closing documents can be prepared by the buyer’s or seller’s attorney, or a neutral professional closing attorney.
- An inventory is taken before but as close to closing as possible.
- A closing takes place followed by seller training the buyer and assisting in the transition for an agreed period of time.
Always keep your broker in the loop. Having assisted buyers through literally hundreds of successful transactions, we are experienced and available to assist at every step along the way.
Exclusive Buyer Representation
- Are you tired of trying to contact countless brokers and business owners directly?
- Are you tired of having your calls and emails ignored?
- Are you discouraged by your inability to get solid information on the business even after you get an initial response?
We can help. Every gold miner knows that you have to dig through tons of dirt to find just a few ounces of gold. Finding the right business for you is no different.
We understand buyers’ needs!
If you have special needs or are tired of endless internet searches, let us do the searching for you. Not all business opportunities are advertised on the internet sites. We have assisted many buyers find the right business before it ever hits the market. Good businesses sell fast, sometimes without ever being advertised in the market. Being the first to evaluate and make an offer on a business can be a major advantage.
Thanks to our many industry networks we can work with most brokers. Let us simplify the complexity and expedite the process for you providing invaluable expertise in your business search, business assessment process, financing, negotiation and closing activities.
Contact Us today to discuss your requirements.